Last updated on May 18th, 2024 at 12:16 pm
In a recent update, a massive 320 billion SHIB tokens have been reportedly offloaded from Voyager’s wallet. The huge amount of Shiba Inu tokens was removed from the bankrupt crypto broker’s wallet at in the last 12 hours.
When converted to USD, the value of this large volume at press time stands at an impressive $2.5 million. Recall that on June 23, Voyager opened withdrawals for its clients, and since then this is the third significant outflow of Shiba Inu tokens.
However, despite the significant unloading of Shiba Inu tokens, the value of SHIB seems not to be affected as it has shown remarkable resilience in the day’s trading. Furthermore, according to the charts, Shiba Inu did not show any sign of downward pressure maintaining a steady 0.17% increase in the last 24 hours.
Source: CoinMarketCap
Related Reading: Dormant Shiba Inu Whale Burns 77 Million SHIB Tokens in Single Transfer
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It is important to note that Shiba Inu is still the third-largest asset possessed by Voyager just after USDC and ETH. It represents about 12.5% of the entire funds held by the bankrupt platform.
The wallet still holds a substantial 1.3 trillion SHIB tokens with a current value of $10.1 million. Consequently, the Shiba Inu community is saddled with big questions like the potential effect on Shiba Inu price when Voyager finally empties its wallets of SHIB tokens.
Source: debank.com
Over the last several days, the cryptocurrency market has remained an unpredictable roller coaster, and strange happenings like this contradictory Shiba Inu predicament only heighten the questions.
Shiba Inu daily burn
The daily Shiba Inu burn activity is another factor that can potentially affect the price of SHIB. Data from Shibburn – a dedicated burn tracker website shows that over 180 million SHIB has been destroyed in the last 24 hours with a chunk of it coming from a single transaction moving 102,600,886 million Shiba Inu about 8 hours ago from press time.
Meanwhile, according to live data from CoinMarketCap, the price of Shiba Inu today is $0.0000078. SHIB is ranked #19 on the global cryptocurrency market chart with a live market cap of $4,572,177,564 ($4 billion).
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.